Hi everyone, sorry for the somewhat later update. I’ve been pulling my hair out working on my Boba company website because I have no idea what I’m doing. Turns out I sat there messing around with setting it up for 13 hours this Friday (until 6am), and then 9 hours yesterday.
Anyways, enough of that, let’s look at the charts. SPY weekly chart below.
I think we still pop the 320 resistance, but then gradually move lower after that. Perhaps we reach 330, or perhaps we pop to all time highs, but I think we eventually move much lower.
Next let’s look at how my pairs trade on XLF and SPY is doing. 3 year weekly chart below.
The lowest ratio of XLF to SPY in 2009 was roughly .07, so right now financial are doing so bad, it’s equivalent to how they were doing in 2009. I’m still holding this pairs trade and will likely hold it for another 3-12 months.
Thank you for reading, and see you next week.